2013–2014 BIENNIAL BUDGET - the City of Tukwila

2013-2014 Biennial Budget City of Tukwila, WashingtonPolicy FP-8 – If compliance with Policy FP-7 is at risk; the Administration will provide alist of revenue options, service level/program reductions or capital project deferrals forCity Council consideration.Enterprise FundsPolicy FP-9 – Each Enterprise Fund will be reviewed annually and it must have a ratestructure adequate to meet its operations & maintenance and long-term capitalrequirements.Policy FP-10 – Rate increases should be small, applied frequently, and staggered to avoidan overly burdensome increase and undue impact in any given year.Policy FP-11 – Rate increases of external agencies (i.e. King County secondary wastewatertreatment fees) will be passed through to the users of the utility.Other General Financial PoliciesPolicy GF-1 – The City’s various user charges and fees will be reviewed at least every twoyears for proposed adjustments based on services provided and comparisons with otherjurisdictions.Policy GF-2 – The Finance Director will provide a financial status update at leastquarterly.Policy GF-3 – Budget amendments during the year will be approved by budget motionuntil the end of the budget year, when a formal comprehensive budget amendment issubmitted.Policy GF-4 – Interfund loans will be permissible if practical. Interest rates will becomputed based on the annual average of the State Investment Pool earnings rate.Policy GF-5 – The City shall, whenever practical and advantageous, take advantage ofgrants, loans, or other external financing sources. With the exception of capitalimprovement program grants requiring a local match, staff shall report to and seek theapproval of the appropriate council committee before finalizing the grant._____________________________________________________________________________________________Page 40